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Fiscal clampdown

31 July 2012 / Andy Wells
Issue: 4364 / Categories: Comment & Analysis , GAAR , Admin
The planned general anti-abuse rule has been unveiled. ANDY WELLS looks at how it differs from the Aaronson proposal


  • Graham Aaronson QC’s study group made a proposal for a GAAR.
  • The professional bodies had concerns about ‘mission creep’.
  • Now HMRC’s consultation moves in a different direction.
  • Will an advisory panel be an effective safeguard?
  • Read the condoc and participate – you may be affected.

At a recent gathering of tax accountants I held a straw poll. The question was will we get a general anti-abuse rule (GAAR) and if so will it simply counter abusive tax schemes or will it affect normal day-to-day tax strategies?

Just about everyone (there was a single dissenter) thought we would have one (not necessarily the same as wanting one) and a comfortable majority thought it might actually be a good thing and would not affect them or their practices.


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